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Bitcoin entered in 2025 with swing, but faced a correction in Q1, guided by wider macronly winds and risk feelings. Despite reaching a new maximum of all time in January, BTC closed the quarter by 12% because geopolitical development, including new US tariffs, influenced risk property throughout the Committee. Still, structural support for Bitcoin remains strong. ETF inflows persisted, the institutional stake grew, and launching a strategic Bitcoin reserves marked a significant shift in the role of bitcoin as sovereign property.
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